4 Money Saving Ideas This Christmas

Christmas can be a wonderful time of year. Spending quality time with friends and family, going on holidays, giving gifts to loved ones, and surely the famous Christmas meal! It’s undeniably a time for giving, and with this comes costs. It’s very easy to go overboard with holidays, gifts, and extravagant foods; to let your hair down and enjoy the spirit of Christmas. The truth is, though, that the silly season eventually passes and a lot of us are left with the burden of big credit card balances. Some people spend months attempting to settle their Christmas debts, while others end up in much deeper water.

While some folks have the financial ability to shower their loved ones with classy gifts and lavish celebrations, many of us should be cautious to spend within our means so our Christmas joy can continue smoothly into the New Year. So with this being said, I’d like to share with you some effective ways of celebrating Christmas, without breaking the bank.

1. Set a Budget

While it may sound clich√©, it’s paramount that you create a budget and follow it. Draft a list of all the gifts you’ll be giving and calculate the total amount. The majority of the time, it will be far more than you pictured. Use this as motivation to think outside the box (pardon the pun!) and make some changes so you can stick to your budget. You could have a yard sale and sell items that aren’t being used any longer, talk with family and friends about a setting price limit for gifts, or perhaps contemplate making gifts yourself! ASIC has published a terrific app to monitor your Christmas spending called TrackMySPEND (https://www.moneysmart.gov.au/) which I’m certain many of you would find useful.

2. Shop Online

Even though many people find pleasure in wandering through department stores and basking in the gorgeous Christmas displays, almost all the same products are available on the internet at more affordable prices. Use comparative shopping websites such as Google Shopping, PriceGrabber, or Nextag to locate what you’re looking for. These websites are extremely competitive and will almost always have discounts that can save you a bundle. While shopping online will save you money, you will need to take extra precaution to ensure you get what you paid for.

3. Rethink your Christmas Cards

If you’re one of the many people who send Christmas cards to all your friends and family, you’ll comprehend that the costs of this exercise can be fairly expensive. It’s no surprise that only some of your family and friends will in fact keep these cards so it’s essentially just money down the drain. Rather, why not send a family Christmas video message online? There are lots of apps on smart phones and tablets that allow you to send fun and entertaining Christmas videos that can be sent electronically at no cost at all. Additionally, you can always make your own Christmas cards with personalised messages and have your children draw pictures to make them super special!

4. Wrapping Paper

A nicely wrapped gift can make a remarkable difference, despite being the cheapest of presents. Christmas paper can be quite pricey, so think about purchasing plain brown paper and adding a festive ribbon from a craft shop which will look much nicer than Christmas paper. You can even recycle brown paper bags that are frequently given at clothing stores. Additionally, consider buying plain green, gold or red paper which can also be used as birthday presents throughout the year. Remember, various department stores will wrap your presents completely free, so don’t hesitate to ask!

As you can see, Christmas celebrations doesn’t need to break the bank. Unfortunately, however, lots of people spend beyond their means and find themselves in financial hardship in the New Year. If you end up in this position, it’s better to seek professional advice sooner rather than later. There are many solutions available to you; all you need is the right advice. For any guidance on financial hardship, get in touch with the specialists at Bankruptcy Experts Sydney by calling 1300 795 575, or alternatively visit our website for further information: www.bankruptcyexpertssydney.com.au